Bros. Advisors Lp Baker Purchases 500,000 Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) Stock

Bicycle Therapeutics plc (NASDAQ:BCYC) Director Bros. Advisors Lp Baker acquired 500,000 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the purchase, the director now owns 9,995,274 shares of the company’s stock, valued at approximately $153,327,503.16. The trade was a 5.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bros. Advisors Lp Baker also recently made the following trade(s):

• On Friday, December 13th, Bros. Advisors Lp Baker bought 985,397 shares of Bicycle Therapeutics stock. The shares were bought at an average cost of $13.76 per share, for a total transaction of $13,559,062.72.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $15.31 on Thursday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -4.65 and a beta of 0.86. Bicycle Therapeutics plc has a 52 week low of $12.17 and a 52 week high of $28.67. The firm’s 50-day simple moving average is $22.45 and its two-hundred day simple moving average is $22.66.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company had revenue of $2.68 million for the quarter, compared to analysts’ expectations of $6.82 million. During the same quarter in the previous year, the firm posted ($1.26) EPS. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. Analysts forecast that Bicycle Therapeutics plc will post -3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BCYC. Stephens started coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. B. Riley cut their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, JMP Securities cut their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $35.25.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock valued at $20,362,000 after purchasing an additional 841,299 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in Bicycle Therapeutics during the 2nd quarter valued at $14,168,000. Perceptive Advisors LLC bought a new position in Bicycle Therapeutics in the 2nd quarter worth $11,577,000. Principal Financial Group Inc. purchased a new stake in shares of Bicycle Therapeutics in the 3rd quarter worth about $10,028,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company’s stock valued at $41,887,000 after purchasing an additional 327,089 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.